Anyone Using EasyFX Multi Currency One-Card ?

[Pete]

I came across a potentially very useful pre-paid debit card called the EasyFX One Card.
Application is on-line and takes a couple of minutes so I am just waiting receipt of this free card any day soon.

As I understand the workings of this free card you load it with pounds sterling say from a UK sterling debit card or bank transfer then you can convert your balance into many different currencies at the best rates in real time. You can hold dollars, Euros and many other popular currencies at the same time. You can convert back and forth in real time as you wish.

When you travel overseas to say France and require Euros then you can either convert some of your cash into Euros before travelling or you can go to an ATM and withdraw Euros.
The rates are allegedly the best and the beauty is there are no fees to pay for converting from one currency to another.

Also you can pay for goods etc abroad using this card again not incurring highway robbery from UK banks even if you only have sterling in your account, EasyFX will convert at the time of the transaction if you don't already have Euros in your account. Transactions should appear almost instantly if you access your account using an App.

It might be possible to pay overseas vendors by quoting the card number - that would be neat if our German coin dealers accepted the card - after all they are being provided with the correct amount of Euros. If so then there are no costs whatsoever in processing the transaction and you are going to beat any bank or PayPal rates by a big margin.

Until my card arrives any day soon I cannot endorse any further but maybe some other forum members have had experience and would care to share ?

[Paul]

https://www.google.co.uk/?gws_rd=ssl#q=EasyFX+mse+forum+site:forums.moneysavingexpert.com

The Money Saving Expert crew normally get to the bottom of the good and bad of things what these cards have to offer.

[morezone]

I have no use for one but I'd personally go for a Post Office or Halifax Clarity card if possible.  The PO has an ATM fee but the Halifax doesn't.  Both cards are foreign currency fee free and are Mastercards so will use the same or better rate than EasyFX.  The bonus of using a credit card is that you are covered under the credit consumer act should anything go wrong.  You can't preload but there is no need to with a credit card so it does mean you can only use the rate for that day.

I always use a credit card where possible and always pay off the balance at the end of the month.  I'm effectively using it like a debit card but with the added bonus of credit protection.

Anyone paying for stuff in a foreign currency through Pay Pal should be using a foreign currency fee free card.  Saves you getting bent over by Pay Pal or paying a ~3% fee to your bank.  This EasyFX card would be handy in this instance since credit protection won't be applicable.

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It might be possible to pay overseas vendors by quoting the card number - that would be neat if our German coin dealers accepted the card - after all they are being provided with the correct amount of Euros. If so then there are no costs whatsoever in processing the transaction and you are going to beat any bank or PayPal rates by a big margin.

The issue is not with the transaction processing fee as that is passed on to the customer just as if they were using Pay Pal.  The reason most do not accept credit card payments outside of their home country is that they cannot verify the card and address as easily (if at all) and are open to fraud.  There is absolutely zero protection for a merchant.  Pay Pal on the other hand does offer limited protection as long as their seller protection rules are followed.